Question # 1

A natural mono,poly occurs when:

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Long-run average costs decline continuously through the range of demand

A firm owns or controls some resource essential to production

Long-run average costs rise continuously as out put is increased

Economies of scale are obtained at relatively low levels of output

Blue Revolution is related to:

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Space research

Poultry

Fisheries

Drinking water

GEAC is an important organization in India, What is its full form?

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General eating and acting committee

General engineering Approval corporation

Genetic Engineering Approval Committee

Genetic Engineering Approval Corporation

What do the initials SEATO stand for?

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South-East Asia Treaty Organization

South-East Asian telecom Organization

South-East Asian Telephone Organization

None to the above

Who has given scarcity definition of economics?

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Adam Smith

Marshall

Robbins

Robertson

If a few firms dominate an industry the market is known as:

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Monopolistic competition

Competitively monopolistic

Duopoly

Oligopoly

The primary use to the kinked-demand curve is to explain price rigidity in:

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Oligopoly

Monopoly

Perfect competition

Monopolistic competition

National income estimated in Pakistan is Prepared by:

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Commission

SBP

Ministry of Finance

C.S.O.

What is the Essence of Control?

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To take decision

To take corrective action

To make enquiry

To motivate

When total revenue is increasing:

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Marginal revenue may be either positive or negative

The demand curve is relatively inelastic

marginal revenue is positive

marginal Revenue is negative

Who is the exponent of realist theory?

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Mortan Kaplan

Hans Morgenthau

Martin Shubik

John Burton

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